Daily News Flash, 24Th August, 2017 1 DSEX 6.45
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Daily News Flash, 24th August, 2017 DSEX 6.45 Gold (Ounce) $1295.10 Dollar 80.70 (Buy) 80.70 (Sell) CSCX 22.1 Oil (Barrel) $47.69 Euro 94.90(Buy) 94.94(Sell) BANK HEIST REPORT NOT YET, MUHITH REAFFIRMS .................................................................... 1 OIL IMPORT TO RISE BY ONE-THIRD .............................................................................................. 3 ADB TO INVEST TK 27.40B FOR REVIVAL OF AILING BR ................................................................ 4 STOCKS POST MARGINAL LOSS ON PROFIT BOOKING .................................................................. 5 BBS CABLES TOPS LOSERS CHART .................................................................................................. 6 BANGLADESH BUILDING LEADS TRANSACTION CHART FOR SECOND DAY .................................. 7 INVESTORS OPT TO BOOK QUICK GAIN ON DSE ........................................................................... 7 EXPORT: BANGLADESH YET TO FULLY TAP ASIAN MARKETS ........................................................ 8 PROVISION AGAINST UNCLASSIFIED CREDIT CARD LOANS RELAXED ........................................ 11 GP SHUTS E-COMMERCE PLATFORM KI DORKAR ....................................................................... 11 BANGLADESH LOOKING TO SIGN FREE TRADE AGREEMENT WITH TURKEY .............................. 12 24 MORE ITEMS IN QUEUE TO GET GI REGISTRATION ................................................................ 12 MAINTAIN WARM RELATIONS WITH EU TO BOOST EXPORTS ................................................... 13 STANDARD CHARTERED: STANDING BESIDE THE PRIVATE SECTOR ........................................... 15 ANOTHER 1 LAKH TONNES OF RICE ON WAY .............................................................................. 17 CTG CUSTOMS TO AUCTION OFF ABANDONED CARGOES.......................................................... 17 MIDLAND SIGNS DEAL WITH ROLLS-ROYCE TO SET UP 150MW PLANT ..................................... 18 STOCKS SEE DOWN IN EARLY HOURS .......................................................................................... 19 - ........................................................ 19 .............................................................. 20 ‘ ’ ................................................................................................... 20 ................................................................................................................ 20 ২৪ .......................................................................... 21 ........................................................................ 21 ............................................................................... 22 ................................................................... 22 ২২ ট .................................................................................... 23 ট ট ৭ , ২২ ....................................................... 23 ........................................................................................................ 24 ......................................................................................................... 25 1 Daily News Flash, 24th August, 2017 ....................................... 25 ২২ ট ........................................................ 26 ......................................................... 26 ..................................................................... 27 .................................................................... 28 ............................................................................... 29 ..................................................... 29 BANK HEIST REPORT NOT YET, MUHITH REAFFIRMS Finance Minister AMA Muhith reiterated that the probe report on the heist in Bangladesh Bank's account with the US Federal Reserve Bank wouldn't be published yet, but expressed the hope that the entire sum would be recovered. But it'll take time, he said Wednesday about the recovery process on stream through litigation in the Philippines, where most of the reserves reportedly stolen by a trans-national gang of hackers landed. "A portion of the heisted money was recovered already. We will get it (the rest amount), but it will take time," the finance minister told newsmen. Talking to them after a meeting of the cabinet committee on public procurement at Bangladesh Secretariat, he also said a long process has to be followed to get back the money. Case is under trial there and a judicial permission is necessary in this regard. "But, my assumption is all of it will be recovered," the minister said in reply to a query. Mr Muhith, however, reaffirmed that the held-back probe report on the heist would not be made public now. Cybercriminals stole US$101 million from the reserves deposited with the US Federal Reserve Bank in New York in February last year. Nearly $20 million of it was recovered from Sri Lanka. The lion's share of the booty landed in the Philippines-and that is reported to have been squandered through gaming in casinos, among other matters of misdealing. Later on, another sum of $15 million was recovered from the Philippines. The government is now working on to recover the rest $66 million back from there. Meanwhile, a taskforce on recovery of the stolen reserve money, led by financial institutions division secretary Eunusur Rahman, at a meeting on the day at the ministry reviewed the updates on the steps taken to retrieve the heisted money. Sources said in the meeting the representative of the central bank suggested not filing any case in the Philippines by Bangladesh authority now as two cases filed by the anti-money laundering unit in Manila are under trial. The meeting was also told that a small portion of the money may be recovered in a month or two. Talking to the FE over telephone after the meeting Mr Rahman said it takes 10 to 12 years in international asset recovery. But in case of this heist Bangladesh could recover a substantial amount in a very short time. 2 Daily News Flash, 24th August, 2017 The authorities of the Philippines are cooperating with Bangladesh in recovering the money, he said to a query. "We are monitoring how the cases in the Philippines are advancing." Source: http://print.thefinancialexpress-bd.com/2017/08/24/181467 OIL IMPORT TO RISE BY ONE-THIRD The country's oil import volume as well as payment in this regard is set to surge by one-third from the existing level, said officials. It will happen, as the government has approved awarding of some new diesel and furnace oil-fired power plants with the total capacity of 2,555 megawatts (MW) over the next two years, they added. A senior official of Bangladesh Petroleum Corporation (BPC) said the oil import is expected to increase from March 2018, as some 1,768-MW diesel and furnace oil-fired power plants are expected to come online by then. He assumed that some 650,000 tonnes of diesel and 750,000 tonnes of furnace oil will be required to import for operating the new power plants, of which 800-MW would be of diesel-fired and 968-MW would be of furnace oil-fired. On August 09, the Cabinet Committee on Public Purchase (CCPP) approved awarding these power plant projects to their respective sponsors, selected through unsolicited offers under Speedy Supply of Power and Energy (Special Provision) Act 2010. The law has a provision of providing immunity to people involved with the quick-fix remedies for power generation. The government has decided to build these power plants 'abruptly' to ramp up the country's overall electricity generation before the next summer ahead of the general election, said a senior official of Power Division under Ministry of Power, Energy and Mineral Resources. The election is slated to be held between October 2018 and January 2019. Separately, on April 05, CCPP also approved awarding seven new furnace oil-fired power plants to generate around 787 MW of electricity. The power plants were awarded through competitive tendering process, which will come online by October 2019, the official further said. Some 600,000 tonnes of furnace oil will be required to import annually for operating the power plants. Most of the sponsors of the new power plants might be entitled to import furnace oil directly to run their power plants, the official added. BPC imported petroleum products worth over Tk 270.23 billion in fiscal year (FY) 2014-15, which was Tk 365.87 billion in FY 2013-14. The country currently imports around 3.50 million tonnes of diesel and 1.50 million tonnes of furnace oil per year to meet the domestic demands of various sectors, including power plants, irrigation, transportation and industries. The country also imports around 5.90 million tonnes of crude oil and refined oil combined annually. The government has already waived oil import duties for private companies and also offered 9.0 per cent service charge on the import. The country began expanding its oil-based power generation capacity in 2010, amid a natural gas deficit caused by depleting upstream reserves and rapid industrialisation. 3 Daily News Flash, 24th August, 2017 It brought almost 40 new oil-fired power plants online by the end of 2016, and subsequently, Bangladesh became a furnace oil importer in mid-2010. Prior to that, it was a regular fuel oil exporter, with cargoes coming from the state-owned BPC's subsidiary Eastern Refinery Ltd. Since 2012, Power Division has awarded many contracts to build gas-fired and coal-fired plants, but these projects have faced delay, forcing the government